Biglaw

Associate Compensation Scorecard: Which Firms Have Announced Bonuses? (Fall 2018)

Is your firm listed here? If not, what are the partners waiting for?

By  
on

Since we broke the news of the market bonus scale for associates at large law firms in the United States — a trend that was started by Cravath on Monday, November 19, 2018 — many firms have quickly fallen in line and matched (or sometimes beaten) the scale. It’s still quite early in bonus season, so we’ve yet to hear from firms offering statements on why they’ve failed to match the market, and dozens upon dozens of firms have remained completely silent.

As usual, we are compiling a table of all the firms that have already matched the new bonus scale, the markets where those bonus matches were made, the minimum hours required to receive those bonuses (if available), and the date those bonuses will be paid. Today, we unveil that table for your viewing pleasure. We will be updating this table on a daily basis, sometimes multiple times, as news on bonuses is announced. If you see any information here that is incorrect or needs clarification, let us know.

Help us help you now (and if/when you decide to make a lateral move in the future). Let us know what your firm’s minimum billable hours targets are for bonus eligibility and when your firm will pay those bonuses. You generally must remain at your firm until the payout date to receive them, as stated in most memos, which could make it all the more difficult for you to leave your place of employment.

As a little reminder, we love covering the Biglaw bonus season, but we need your help. As soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”). We always keep our sources on bonus stories anonymous. There’s no need to send the memo using your firm email account; your personal email account is fine. Please be sure to include the memo as proof; we like to post complete bonus memos as a service to our readers. You can take a photo of the memo and attach as a picture if you are worried about metadata in a PDF or Word file.

Don’t forget, if you’d like to sign up for ATL’s Bonus Alerts, please enter your email address in the box below. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Cheers to a happy bonus season, everyone!

Firm Date Matched Offices Matched Minimum Hours Payout Date
Cravath
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 FIRST MOVER
November 19, 2018		 New York, NY None December 14, 2018
Paul Weiss
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 20, 2018 All U.S. Offices None December 21, 2018
Holwell Shuster & Goldberg
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 November 19, 2018 New York, NY None December 31, 2018
Milbank
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 November 20, 2018 All U.S. Offices None December 31, 2018
Kaplan Hecker & Fink
Class of 2017: $25K
Class of 2011: $130K		 November 20, 2018 New York, NY None December 21, 2018
Fried Frank
Class of 2018: $15K (pro-rated)
Class of 2010+: $100K		 November 20, 2018 All U.S. Offices + London, UK 2000 for market bonus (incl. 300 in pro bono and 125 qualified non-billable hours); bonuses 15% or 30% above market at the 2200- and 2450-hour marks December 27, 2018
Skadden
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 20, 2018 All U.S. Offices 1800 for market bonus; additional $10K bonuses available for Class of 2012+ for “extraordinary performance” December 15, 2018
Proskauer Rose
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 November 20, 2018 All U.S. Offices None December 21, 2018
Debevoise
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 20, 2018 All U.S. Offices None “Payable at year end”
Greenberg Gross
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 20, 2018 All U.S. Offices None January 15, 2019
Wilkinson Walsh + Eskovitz
Class of 2017: $22.5K
Class of 2011+: $150K		 November 20, 2018 All U.S. Offices None December 14, 2018
Cleary Gottlieb
Class of 2018: $15K (pro-rated)
Class of 2010+: $100K		 November 20, 2018 All U.S. Offices + All Int’l Lawyers on U.S. Scale None December 14, 2018
Simpson Thacher
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 November 21, 2018 All U.S. Offices None December 28, 2018
Cadwalader
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 21, 2018 All U.S. Offices 1800 hours for a market bonus Undisclosed
Weil Gotshal
Class of 2018: $15K (pro-rated)
Class of 2010: $100K
Class of 2009+: Case by case		 November 21, 2018 All U.S. Offices None January 31, 2019
Freshfields
Class of 2018: $15K (pro-rated)
Class of 2010+: $100K		 November 21, 2018 All U.S. Offices None December 28, 2018
Covington & Burling
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 26, 2018 All U.S. Offices None January 2019
Davis Polk
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 26, 2018 All U.S. Offices None December 14, 2018
Sidley Austin
Class of 2017: $15K
Class of 2010+: $100K		 November 26, 2018 All U.S. Offices 2000 hours for market bonus Undisclosed
Kramer Levin
Class of 2017: $15K
Class of 2011+: $100K		 November 26, 2018 New York, NY
Silicon Valley, CA		 “Hours threshold set forth in Annual Bonus Policy” February 15, 2019
Clifford Chance
Class of 2018: $15K (pro-rated)
Class of 2010+: $100K		 November 27, 2018 All U.S. Offices None January 15, 2019
Sheppard Mullin
First Year (A1): $15K (pro-rated)
Counsel 2: $100K		 November 27, 2018 All U.S. Offices 2000 hours for market-match bonus; fewer/greater hours equal lower/higher bonuses January 2019
Ropes & Gray
Class of 2018: $15K (pro-rated)
Class of 2016: $25K
Classes of 2015+: Determined individually		 November 27, 2018 All U.S. Offices 1900 hours (including pro bono) for market bonus December 21, 2018
Fenwick & West
T1/L1: $15K
T3: $100K		 November 28, 2018 All U.S. Offices 1950 hours for market bonus December 21, 2018
Dechert
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 November 28, 2018 All U.S. Offices None January 2019
Willkie Farr
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 29, 2018 All U.S. Offices None December 21, 2018
Shearman & Sterling
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 November 29, 2018 All U.S. Track Associates None January 15, 2019
Mayer Brown
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 December 3, 2018 All U.S. offices Multiple tiers with varying hours February 2019
Boies Schiller
GIGANTIC		 December 3, 2018 New York, NY None Undisclosed
Hueston Hennigan
30 to 50 percent of an associate’s base salary		 December 6, 2018 Los Angeles, CA
Newport Beach, CA		 Based on class year, hours, and good standing Undisclosed
Morgan Lewis
Class of 2018: $15K (pro-rated)
Class of 2011+: $100K		 December 7, 2018 All U.S. Associates 1900 hours for market bonus Undisclosed
Akin Gump
Class of 2018: $15K (pro-rated)
Class of 2010: $100K
Additional bonus amounts of $5,000 – $25,000 for “extraordinary performance”		 December 7, 2018 All U.S. Associates None Undisclosed
Selendy & Gay
Class of 2018: $22.5K
Class of 2012: $135K		 December 7, 2018 New York, NY None December 21, 2018
Wigdor
Bonuses ranging from $70,000 minimum to $160,000.		 December 7, 2018 New York, NY None Undisclosed
Susman Godfrey
Partnership Class of 2023: $110K (median)
Partnership Class of 2018: $225K (median)		 December 10, 2018 All U.S. Associates None Undisclosed
Hogan Lovells
Class of 2017: $15K
Class of 2011+: $100K		 December 10, 2018 All U.S. Associates 2,000 hours for market bonus (including unlimited pro bono hours once 1850-hour threshold is met) December 31, 2018
Pepper Hamilton
Class of 2017/2016: $10,000 / $15,000
Class of 2011/2010: $17,500 / $22,500
Plus discretionary bonuses		 December 12, 2018 All U.S. Associates 2,040 vs. 2,140 billable hour threshold for market bonus; discretionary bonus at 1940 hours Undisclosed
Allen Matkins
Class of 2018: $5K base (depends on hours)		 December 12, 2018 All U.S. Associates More hours = more bonus money; see memo Undisclosed
Perkins Coie
Individualized		 December 13, 2018 All U.S. Associates None Undisclosed
Gibson Dunn
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 December 13, 2018 All U.S. Associates None Undisclosed
Alston & Bird
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 December 13, 2018 New York, NY
Dallas, TX
Los Angeles, CA
Reportedly below-market bonuses in other offices		 1950 hours for market bonus Undisclosed
Schulte Roth & Zabel
Class of 2018: $15K (pro-rated)
Class of 2009: $100K		 December 13, 2018 All U.S. Associates Base threshold undisclosed; up to $40K extra bonus cash for high billers ($20K extra for 2300 hours + $20K extra for 2500 hours) January 18, 2019
McGuireWoods
Junior: $7.5K
Senior: Up to $50K		 December 14, 2018 All U.S. Associates Base of 2050 hours; higher bonus with increased hours Undisclosed
Cahill Gordon
Class of 2018: $15K (pro-rated)
Class of 2010: $100K
Plus special bonuses ranging from $5,000-$40,000 for “outstanding individual effort”		 December 14, 2018 All U.S. Associates None Second half of January 2019
Bryan Cave Leighton Paisner
Class of 2016/17: Base of $10K – Up to $30K (based on hours)
Class of 2013+: Base of $20K – Up to $60K (based on hours)		 December 17, 2018 All U.S. Associates Bonuses based on hours, with a threshold of 1900 hours Undisclosed
Kirkland & Ellis
Most associates will receive 1.25-1.33x of market		 December 18, 2018 All U.S. Associates None Undisclosed
Sullivan & Cromwell
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 December 19, 2018 All U.S. Associates None December 31, 2018
McKool Smith
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 December 19, 2018 All U.S. Associates None Undisclosed
Haynes & Boone
Individualized (but seem to be Cravath matches) + “summer bonuses” included in year-end bonuses		 December 20, 2018 All U.S. Associates 2000 hours December 31, 2018
Locke Lord
About 25-30 percent below market for every class year
Top billers received Cravath matches		 December 21, 2018 All U.S. Associates None December 31, 2018
Baker Botts
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 December 21, 2018 All U.S. Associates 2000 hours (plus “summer bonuses” for those who caught up on hours); bigger bonuses at a threshold of 2150 hours Undisclosed
Quinn Emanuel
Class of 2018: $15K (pro-rated)
Class of 2010: $100K		 December 21, 2018 All U.S. Associates 2100 hours for market bonus; 2400-2699 hours for $3K to $20K above-market bonus; 2700+ hours for $5.25K to $35K above-market bonus December 21, 2018
McDermott
Class of 2018: $15K (pro-rated)
Class of 2010: $100KAdditional bonus hours for productivity over 2000 hours and/or exceptional performance		 March 8, 2019 All U.S. offices 2000 billable (includes 100 pro bono hours, 75 professional development hours, and 25 wellness hours) March 15, 2019
Fish & Richardson
Individualized bonuses, but seem to be above-market		 December 26, 2018 All U.S. Associates None Undisclosed

Sponsored

Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

Sponsored

Bonus Time

Enter your email address to sign up for ATL's Bonus & Salary Increase Alerts.

Topics

, , ,